Project governance has become part of the project management vocabulary. As a formal definition of the term lacked, it has been used in various contexts that caused confusion and misunderstanding. This paper provides a formal definition for ‘project governance’ based on a Delphi study. Combining the results from the
Delphi study with existing corporate governance principles led to a concept project governance framework that was validated and developed further by means of two primary case studies and 15 secondary case studies. The end result is a final project governance framework that provides a practical checklist for the governance of major capital investments.